Explain the Reasoning Behind Why the Long-Run Aggregate Supply Curve

question 6

Essay

Explain the reasoning behind why the long-run aggregate supply curve is vertical.

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Definitions:

Negative Real Number

Any real number that is less than zero, found to the left of zero on the number line.

Greatest Common Monomial Factor

The highest monomial that divides evenly into each term of an algebraic expression.

Factor By Grouping

A method for factoring polynomials that involves grouping terms with common factors and then factoring out those common factors.

Common Binomial Factor

A binomial that is a factor of two or more polynomials.